Evotec (NASDAQ:EVO) Shares Gap Up - Here's What Happened

Key Points

• Evotec shares gapped up before the open, rising from $3.15 to $3.29 and last trading at $3.2690 on volume of about 26,974 shares (up ~3.3%).
• Analyst coverage is mixed — three Buys, one Hold and one Sell — leaving a MarketBeat consensus of "Hold" with an average price target of $7.00.
• The company reported $0.05 EPS on $297.02M revenue but had a negative net margin (‑13.13%) and ROE (‑12.40%), and sell-side analysts forecast a −0.59 EPS for the current fiscal year, signaling continued unprofitability.

Evotec AG (NASDAQ:EVO - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $3.15, but opened at $3.29. Evotec shares last traded at $3.2690, with a volume of 26,974 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EVO. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Evotec in a research report on Monday, December 29th. HC Wainwright began coverage on shares of Evotec in a research report on Wednesday, April 15th. They set a "buy" rating and a $7.00 price target for the company. Berenberg Bank began coverage on shares of Evotec in a research report on Tuesday, February 3rd. They set a "buy" rating for the company. Finally, Wall Street Zen raised shares of Evotec from a "sell" rating to a "hold" rating in a research report on Saturday, January 10th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $7.00.

Evotec Trading Up 3.3%

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.07 and a quick ratio of 1.99. The business's fifty day simple moving average is $2.92 and its 200 day simple moving average is $3.27.

Evotec (NASDAQ:EVO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $297.02 million for the quarter. Evotec had a negative net margin of 13.13% and a negative return on equity of 12.40%. Sell-side analysts forecast that Evotec AG will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Evotec

Several institutional investors and hedge funds have recently bought and sold shares of EVO. Marshall Wace LLP acquired a new stake in Evotec during the fourth quarter worth about $40,000. SmartHarvest Portfolios LLC acquired a new stake in Evotec during the first quarter worth about $44,000. BNP Paribas Financial Markets raised its stake in Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock worth $50,000 after acquiring an additional 4,600 shares during the period. Bank of America Corp DE raised its stake in Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock worth $53,000 after acquiring an additional 9,289 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in Evotec during the third quarter worth about $53,000. Institutional investors and hedge funds own 5.81% of the company's stock.

About Evotec

Evotec SE NASDAQ: EVO is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec's service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.

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